NOT LISTED FOR SALE

1969 Cedar Ave Long Beach, CA 90806

South Wrigley Neighborhood
6 Beds
4 Baths
5,886 Sq Ft
8,256 Sq Ft Lot

Last Sold March 15, 2019

Last sale price $1,775,000 $302 Per Sq Ft

100 Days on Market

Highlights

  • Gated Community
  • Corner Lot
  • Laundry Room

About This Home

As of March 2019

The property is comprised of two buildings: a two-bedroom/one-bath house with a large private patio in the rear, and a two-story building with two one-bedroom/one-bath units and three three-bedroom/two-bath units. The property offers A/C in all units and on-site laundry facilities. Parking is available, with four private garages and a long driveway along the front house to accommodate multiple cars. Recent renovations include a new roof on the rear building, upgraded electrical systems, mostly upgraded plumbing and replacement of most water heaters. Exterior improvements include fresh new paint and attractive, low-maintenance landscaping. 1969 Cedar Avenue provides investors the opportunity to own a turnkey asset in a Downtown-adjacent neighborhood.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 10/17/2018

Keller Williams Realty Downey

Co-Listed By

Mark Witsken

KW Advisors License #01884724

Last Buyer's Agent

Dale Jervis

Century 21 Jervis & Associates License #00849695

Century 21 Jervis & Associates

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1955

Lot Details

  • 8,256 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot
  • Density is 6-10 Units/Acre

Parking

  • 2 Open Parking Spaces
  • 4 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 5,886 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 8
  • Tax Tract Number 5730
  • Assessor Parcel Number 7209026012

Community Details

Overview

  • 2 Buildings
  • 6 Units

Building Details

  • 7 Separate Electric Meters
  • 2 Separate Gas Meters
  • 6 Separate Water Meters
  • Electric Expense $825
  • Fuel Expense $825
  • Gardener Expense $600
  • Insurance Expense $2,354
  • Maintenance Expense $2,250
  • Other Expense $1,050
  • Pest Control $500
  • Professional Management Expense $6,641
  • Trash Expense $825
  • Water Sewer Expense $825
  • New Taxes Expense $29,514
  • Operating Expense $46,709
  • Gross Income $132,810
  • Net Operating Income $86,101

Additional Features

  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1955

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 6641.00
  • Property Attached: Yes
  • Security: Gated Community
  • Subdivision Name Other: Wrigley Area (WR)
  • Water Sewer Expenses: 825.00
  • Zoning: LBR2N
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7209026012
  • Year Built: 1955
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 301.56

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 500.00
  • Sewer: Public Sewer
  • Trash Expense: 825.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre, Corner Lot
  • Lot Size Sq Ft: 8256.00
  • Lot Size Acres: 0.1895

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 825.00
  • Fuel Expense: 825.00
  • Gross Income: 132810.00
  • Gross Scheduled Income: 139800.00
  • Insurance Expense: 2354.00
  • Lot Size Area: 8256.0000 Square Feet
  • Maintenance Expense: 2250.00
  • Net Operating Income: 86101.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 46709.00
  • Other Expense: 1050.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Expenses: 46709.00

Tax Info

  • New Taxes Expense: 29514.00
  • Tax Census Tract: 5730.04
  • Tax Lot: 8
  • Tax Tract Number: 5730

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/15/2019 03/15/19 Sold $1,775,000 -1.1% $302 / Sq Ft
01/25/2019 01/25/19 Pending -- -- --
01/08/2019 01/08/19 Price Changed $1,795,000 -1.6% $305 / Sq Ft
11/01/2018 11/01/18 Price Changed $1,825,000 -3.7% $310 / Sq Ft
10/17/2018 10/17/18 For Sale $1,895,000 +39.9% $322 / Sq Ft
09/21/2017 09/21/17 Sold $1,355,000 -6.6% $230 / Sq Ft View Prior Sale
07/20/2017 07/20/17 Pending -- -- --
06/30/2017 06/30/17 For Sale $1,450,000 +7.0% $246 / Sq Ft
06/29/2017 06/29/17 Off Market $1,355,000 -- --
11/20/2012 11/20/12 Sold $798,000 0.0% $136 / Sq Ft View Prior Sale
11/13/2012 11/13/12 Pending -- -- --
08/29/2012 08/29/12 For Sale $798,000 -- $136 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2019

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    1 in this area

    76 Total Sales

    Robert Stepp
    Section Image

  • M

    Seller Co-Listing Agent in 2019

    Mark Witsken

    KW Advisors

    Section Image
  • Dale Jervis

    Buyer's Agent in 2019

    Dale Jervis

    Century 21 Jervis & Associates

    (562) 862-2226

    82 Total Sales

    Dale Jervis
    Section Image
  • Greg Sorah

    Seller's Agent in 2017

    Greg Sorah

    S & L Property Sales

    (714) 804-0737

    15 Total Sales

    Greg Sorah
    Section Image
  • Gary Tolfa

    Seller's Agent in 2012

    Gary Tolfa

    Triqor Group

    (949) 756-3232

    14 Total Sales

    Gary Tolfa
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18252269

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90806 South Wrigley

1969 Cedar Ave, Long Beach, CA

Not Listed for Sale

MultiFamily

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